Trump's latest trade tiff with China has Texans again bracing for pain

A Chinese worker looks on as a cargo ship is loaded at a port in Qingdao Shandong Province

China will impose tariffs on an additional $16 billion worth of us products, officials announced Wednesday, marking the latest parry in an escalating trade war between the two countries.

Washington imposed tariffs on $34 billion of Chinese products on July 6.

John Neuffer, president and CEO of the Semiconductor Industry Association, said in a statement they were disappointed and puzzled why semiconductors remain on the final tariff list.

China has threatened to retaliate on any additional U.S. tariffs tit-for-tat.

But there seems no solution at sight as the Trump administration prepares for tariffs of up to 25 per cent on an additional United States dollars 200 billion in Chinese products.

Representatives for the White House, the U.S. Trade Representative and the U.S. Department of Commerce did not immediately reply to requests for comment.

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"Under the threat of tariffs, the U.S.is benching businesses and encouraging the Chinese to import goods from America's foreign competitors", Chandler said.

Customs officials will begin collecting the border tax August 23, the Office of the U.S. Trade Representative said. Big-ticket USA items that are still not on any list are crude oil and large aircraft. The USTR is reviewing 10% tariffs on a further $200 billion in Chinese imports, and is even considering raising the rate to 25%.

Talks between Washington and Beijing are at an impasse in the ongoing trade spat, with both sides continuing to threaten new tariffs. Still, disagreements between the two major economic powers run deeper than just the trade balance and tensions remain over market access, intellectual property, technology transfer and investment.

The latest tariff salvos stem from Trump's complaint that China is unfairly acquiring American technology via coercive joint ventures with US companies, cybertheft and other violations of intellectual property rights.

China's latest tariffs will be implemented on August 23, in tandem with the U.S. "We have been very clear about the specific changes China should undertake". That's soon enough to be used by Trump as a rallying argument, but late enough so that adverse effects will not occur before January 2019. The $16 billion taxed in the latest round brings the total amount of Chinese goods taxed up to $50 billion.

China's exports to the United States rose 13.3 percent in the first seven months of 2018 from a year earlier, compared with a 13.5 percent rise in Jan-June.

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